United Kingdom: Industrial output grows at fastest pace since March in November
Industrial output increased 0.9% month-on-month in seasonally-adjusted terms in November (October: -0.4% mom). November’s reading marked the best result since March. Looking at the details of the release, November’s pickup was broad-based, with the manufacturing, electricity, gas, steam and air conditioning supply and water supply sub-sectors all gaining steam.
On an annual basis, factory output grew 0.1% in November, which was below October’s 0.2% expansion and marking the worst result since February. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at an over two-year high of 5.2%, up from October’s 4.9%.